This one is not for the faint of harted , today in my option diary series , Advanced metallurgical group. Which in a very short description makes difficult products out of precious metals. With emphasis on difficult, and precious.
It’s a very hard and volatile market on any given day, it’s a highly cyclical business and it’s always at the forefront of any wrinkle in the market. But it’s a nice stock to own just because the stuff it produces is only getting harder to come by and it’s something which will be more expensive in the future , and since were here for the long run , this is worth a bit of a gamble. So I sold two put options.
These are the options I sold :
AMG Put 14.00 20 December 2019, for 50 Euro’s
AMG Put 18.00 20 March 2020 , for 175 Euro’s
As you can see, these were sold right before a dip in the market due to tweeting presidents and the like. So my timing was a bit off. So this case shows this stock can fluctuate a bit , I told you so. Target is 50% or less before I buy them back. See you next time !